JD.com has introduced a new gifting feature, positioning itself as a rival to Alibaba and Tencent just in time for the Lunar New Year. This move by the tech powerhouse, based in Beijing, aligns with the recent rise in popularity of online gifting within China's e-commerce industry.

When exploring a range of available products, users of the JD.com app will notice a button marked "Gifting IT." Once they click on this, they will be guided through a straightforward process to purchase an item and arrange for it to be sent straight to the recipient.

This action ignited conversations regarding WeChat's increasing ability to serve as Tencent's newest tool in China's intensely competitive e-commerce industry.

Mobile phone powerhouse Honor appoints a seasoned Huawei executive as the new CEO, following the resignation of George Zhao Ming. The reshuffling at the helm of Honor might introduce some level of instability in the firm's plans for its first public stock offering.

Honor's board of directors made a statement on Friday, recognizing Zhao's significant contributions to the company throughout his term. They anticipate that his successor, Li, will persist in introducing inventive products and experiences to customers globally.

"Throughout the last ten years, Honor has been my everything," shared Zhao, who assumed the role of Honor's leader in 2015, at a time when it was merely Huawei's inexpensive smartphone division. "Starting from the V40 model, the new Honor [after the split] experienced some downturns… but it also made significant progress in both the domestic and international markets."

However, he highlighted that the extended work periods and demanding tasks have negatively impacted his health. He further mentioned his eagerness to recuperate, engage more in reading, and devote more of his time to his family.

Mobile phone powerhouse Honor appoints Huawei stalwart as new CEO, following the resignation of George Zhao Ming. The recent changes in Honor's top management may bring a certain level of unpredictability to the company's plans for its debut on the stock market.

Honor's board of directors, in a statement released on Friday, recognized Zhao's remarkable achievements during his tenure at the company. They anticipate that his successor, Li, will carry on with bringing creative products and experiences to customers globally.

Zhao, who took the reins of Honor in 2015 when it was merely Huawei's economical smartphone division, expressed that Honor has been his entire world for the last ten years. Beginning with the V40 model, the revamped Honor, after its separation, experienced both dips and peaks in the Chinese and international markets.

However, he emphasized that the extended work hours and demanding job have negatively impacted his health. He further expressed his eagerness to recuperate, engage in reading, and devote more time to his family.

The US Supreme Court supports the law mandating TikTok's sale or prohibition. The Supreme Court has declared that the legislation demanding ByteDance to sell the video-sharing platform to a non-Chinese purchaser or confront a US ban starting from Sunday is within the constraints of the constitution.

On Friday, the Supreme Court of the United States validated a law that mandates the prohibition of TikTok, a widely used Chinese short-video application, in the country unless it finds a buyer outside of China by the end of the weekend.

The decision stands as a major setback for TikTok, which boasts a user base of 170 million Americans, in the face of growing apprehensions regarding potential national security threats linked to the app's Chinese proprietorship.

The judiciary's decision marks a significant milestone in a long-standing political, legal, and commercial drama involving China, which has been ongoing for almost half a decade. The conversation around the app posing a possible danger to the security of the United States commenced in 2020.

Nonetheless, the final outcome for TikTok could potentially be dictated by executive decisions, given the promises made by President-elect Donald Trump – who initially was against the app – to rescue it.

In a peculiar action, Trump submitted a friend-of-the-court brief in the lawsuit, asking the court to pause the prohibition to allow him some time to pursue a solution via "political methods".

The court, in an opinion without any attribution, stated unequivocally that TikTok serves as a unique and broad platform for self-expression, interaction, and community-building for over 170 million Americans.

Chinese AI company MiniMax has launched affordable open-source models that compete with leading chatbots. This launch, featuring basic and multimodal models, follows closely on the heels of competitor DeepSeek, which recently raised the bar by releasing its own open-source models.

In performance evaluations shared on its official WeChat account, MiniMax demonstrated that its fresh foundational language model matches the global top-tier AI models in tests that cover mathematical problem-solving, specialist knowledge, adherence to instructions, and prevention of delusions or factual inaccuracies.

Hong Kong shares are nearing a two-week peak as the US inflation data increases the likelihood of interest rate reductions. The consumer price index has brought about an 'agreeable shock' and indicates a 'subtle reduction of constant inflationary strains', according to an investor.

The Hang Seng Index saw a 1.2 per cent rise, closing at 19,522.89, a record high since January 6th. Similarly, the Hang Seng Tech Index also increased by 1.2 per cent. Meanwhile in China, the CSI 300 Index saw a marginal increase of 0.1 per cent, while the Shanghai Composite Index went up by 0.3 per cent.

Chinese aluminum producer, China Hongqiao Group, saw its shares surge over 5%, making it the top performer on the Hang Seng index, following its share repurchases. Meanwhile, Wharf Real Estate Investment was the leader among Hong Kong's property developers, buoyed by hopeful sentiments about a potential decrease in borrowing costs in line with the US, which would ease the mortgage pressure on those purchasing homes.

The core US consumer price index, which does not include food and energy expenses, rose by 0.2% in December on a monthly basis, indicating the first deceleration in half a year. Inflation on an annual basis sped up by 3.2%, exceeding the Federal Reserve's goal of 2%. Certain officials have expressed optimism that inflation will keep decelerating based on these numbers. The S&P 500 saw a nearly 2% increase and the Nasdaq 100 surged over 2% in after-hours trading.

"Stephen Innes, the managing director at SPI Asset Management in Bangkok, revealed that a crucial inflation report unexpectedly suggested a reduction in the rate of primary cost increases. He noted that this slowdown pointed towards a mild relief from the ongoing inflationary stresses that have been troubling the market. Given this data, we can anticipate a more promising trading day across Asia this Thursday," he said.

Market participants will also be vigilant for crucial economic figures from China, scheduled for public release on Friday morning. Economists monitored by Bloomberg anticipate that economic growth for the fourth quarter likely quickened to 5 per cent, up from 4.6 per cent in the previous quarter. If this projection comes to fruition, it will aid China in achieving its yearly growth objective of approximately 5 per cent for 2024.

TikTok is set to cease operations in the US this Sunday unless a last-minute pardon is granted, according to insiders. The company has indicated that if TikTok's US operations are halted, it could result in the app becoming inaccessible for users in several other countries.

People who have already installed TikTok could, in theory, continue using the app. However, the legislation prevents American businesses from offering services that would facilitate the distribution, upkeep, or updating of the app starting from Sunday.

The Trump transition team didn't respond right away. Trump has expressed that he should be given time post-inauguration to seek a "political resolution" for the matter.

"TikTok is indeed an exceptional platform," stated Mike Waltz, Trump's soon-to-be national security adviser, during a Fox News interview on Wednesday. "We're determined to maintain it while ensuring the security of users' data."

BitMEX has been slapped with a US$100 million penalty for breaching US laws against money laundering. The founders of BitMEX have been charged with neglecting to implement anti-money-laundering measures and "know your customer" protocols.

BitMEX, also recognized as HDR Global Trading, received its sentencing from US District Judge John Koeltl in Manhattan after admitting guilt last July.

The verdict incorporates a two-year probation period. BitMEX and its creators, who admitted their guilt in 2022 and received a probationary sentence, had earlier paid approximately US$110 million in connected criminal and civil lawsuits, as indicated by court documents.

The legal representatives for BitMEX were not quick to answer inquiries for their views.

The prosecution has charged BitMEX and its founders, Benjamin Delo, Arthur Hayes, and Samuel Reed, with intentional breach of the Bank Secrecy Act from 2015 to 2020. They allegedly neglected to implement anti-money-laundering and "know your customer" measures, thereby transforming the exchange into a conduit for money laundering.

In 2021, BitMEX consented to pay a maximum of $100 million as a settlement of civil allegations made by two US regulatory bodies. The charges stated that the company inadequately vetted its customers and allowed them to trade in cryptocurrencies without proper registration.

The Dubai financial centre has given the green light to China's investment bank, CICC, to commence operations. The CEO of Dubai Financial Services Authority hails this license as a significant advancement for transnational transactions in the United Arab Emirates.

The Dubai International Financial Centre (DIFC) has granted a permit to the China International Capital Corporation (CICC) to conduct operations. This development enhances the presence of Chinese companies in the United Arab Emirates, reflecting the ongoing growth of cross-border activities.

The investment bank is set to become a part of China's top five banks that have established their presence in the special economic zone. This move will broaden the spectrum of financial services provided to aid cross-border transactions, such as trade and sustainable finance, as stated by Ian Johnston, the Chief Executive Officer of the Dubai Financial Services Authority (DFSA).

"Having CICC, a leading investment bank that can expedite transactions and agreements, is a significant advancement," Johnston stated during the Asian Financial Forum held on Tuesday in Hong Kong.

Last week, CICC Hong Kong Securities was granted a license. This permit gives the firm the authority to organize and provide advice on credit, financial products, and investment transactions, as per the DFSA public record.

CICC chose not to respond. During a press conference on Tuesday, Xu Jia, who serves as the assistant leader of the bank's investment banking division, stated that the bank's international branches strive to cater to the requirements of Chinese businesses for international mergers, purchases, and new project investments.

"Xu also acknowledged the need for autonomous equity financing and public offerings for these Chinese companies' nurtured businesses overseas."

Johnston indicated that Chinese banks are acquiring customers in sectors like infrastructure and project finance, expanding upon their current trade-related transactions.

CTF Services of Hong Kong is set to release convertible bonds worth US$100 million. The infrastructure division of Chow Tai Fook Enterprises has announced plans to register the new shares on the Hong Kong stock exchange.

The starting conversion cost of HK$8.043 for each share corresponds to roughly a 5 per cent increase from CTF Services' final stock value on Wednesday. After the conversion, the tool will represent about 2.37 per cent of the firm's total shared capital, as stated in a document submitted to the Hong Kong stock exchange.

The company anticipates raising around HK$769 million in net profits from the issuance. The firm has announced plans to utilize these funds to restore working capital, pay off the principal and interest on bonds and loans, among other applications.

The firm stated that the goal of the release is to replenish its public free float, presently approximately 23.83 per cent, to reach the mandatory minimum limit of 25 per cent.

The executives believe that the bond issuance is a suitable measure for the firm to reinstate public stock in compliance with the listing regulations, according to the submission. It further stated that the bonds will contribute to strengthening the company's financial foundation and will also support the company's long-term growth if the bonds are transformed into new stock.

The securities are set to be registered on the Vienna Stock Exchange. CTF Services announced its intention to get the newly issued shares listed on the Hong Kong stock market. UBS and HSBC are managing the transaction.

CTF Services from Hong Kong plans to release US$100 million worth of convertible bonds. The infrastructure subsidiary of Chow Tai Fook Enterprises has announced its intention to register the new shares on the Hong Kong stock market.

The beginning conversion cost of each share is HK$8.043, which represents roughly a 5% increase from the final stock price of CTF Services on Wednesday. After the conversion, the instrument will make up about 2.37% of the firm's total issued shares, as per a document submitted to the Hong Kong stock exchange.

The company anticipates that the issuance will yield around HK$769 million in net proceeds. They intend to use these funds to boost their operational capital and pay off the principal and interest on bonds and loans, among other things.

The business stated that the purpose of the issuance is to aid in reinstating its public free float, presently at approximately 23.83 percent, to reach the mandatory minimum of 25 percent.

The board members view the bond issuance as a suitable strategy for the business to regain public offering, as mandated by listing regulations," according to the report. It further highlighted that these bonds could enhance the company's financial foundation and contribute to its long-term growth, particularly if these bonds are transformed into new stocks.

The securities are set to be listed on the Vienna Stock Exchange. CTF Services has announced its intentions to apply for the new shares to be listed on the Hong Kong stock exchange. UBS and HSBC are managing the transaction.

Technology Battle: Chinese AI powerhouse Zhipu included in US trade blacklist prior to Biden's departure

Zhipu AI is one of over twenty companies from China and Singapore that were added to the US Entity List on Wednesday.

Zhipu, a company based in Beijing, made a statement late Wednesday refuting the US action, stating it lacks concrete evidence. The company also mentioned that being added to the Entity List would not significantly affect its business activities.

Sophgo failed to provide an immediate response to an inquiry for their opinion on Thursday. Efforts by The Post to get in touch with PowerAIR were unsuccessful, as the company lacks a public website, phone number, or email address.